US30 Technical Analysis: Counter-Trend Short Opportunity
Updated
The US30's bullish momentum has encountered a key resistance level. This presents a potential counter-trend shorting opportunity. Here's the trade idea:
Entry: Sell short at the current resistance level.
Stop-Loss: Place a stop-loss order above the recent high.
Target: Aim for the previous support/imbalance zone established at a prior low.
Rationale: The US30's extended rally into resistance increases the likelihood of a pullback. This setup offers a favorable risk-reward ratio for a short-term counter-trend trade.
Important Note: Market conditions can change rapidly. Manage risk diligently and adapt your strategy as needed.
Entry: Sell short at the current resistance level.
Stop-Loss: Place a stop-loss order above the recent high.
Target: Aim for the previous support/imbalance zone established at a prior low.
Rationale: The US30's extended rally into resistance increases the likelihood of a pullback. This setup offers a favorable risk-reward ratio for a short-term counter-trend trade.
Important Note: Market conditions can change rapidly. Manage risk diligently and adapt your strategy as needed.
Trade closed: target reached
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